Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration.

Grayscale Investments has submitted a proposal to convert its XRP (CRYPTO: XRP) Trust into an exchange-traded fund at the New York Stock Exchange. The move comes as part of a broader effort by asset managers to introduce regulated investment vehicles for digital assets.

NYSE Arca, a New York Stock Exchange subsidiary, filed the paperwork to transform Grayscale’s $16.1 million XRP Trust into a spot exchange-traded fund (ETF). According to the filing, Coinbase Custody Trust Company,

Grayscale has filed with the SEC to list an XRP ETF on the NYSE Arca, following last week’s Solana and Litecoin ETF filings.

Grayscale Investments has filed to convert its $16 million XRP Trust into an NYSE-listed ETF, joining five other firms awaiting approval amid rising trading volumes and potential government interest in the digital asset.

Grayscale seeks to transform XRP Trust into a spot ETF, seeking NYSE approval to provide direct XRP exposure to investors.

On January 29, Thursday, the XRP price jumped over 2% to reach a trading value of $3.12. This upswing is likely to be linked to a broader market uptick after the Federal Reserve’s steady interest rate policy and growing ETF buzz after Grayscale filled with the New York Stock Exchange (NYSE).

NYSE Arca, a subsidiary of the New York Stock Exchange, took a significant step toward converting Grayscale's XRP Trust into a spot exchange-traded fund (ETF). The move was initiated through the submission of a 19b-4 filing, indicating a formal proposal for the conversion process.

Seyffart says that ongoing SEC lawsuits involving XRP assert that the cryptocurrency is a security, barring it from being approved for an ETF. If Atkins is confirmed, it is likely